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Saving up for your down payment – 17 smart strategies

Author: 
Condos.ca Staff
Publication date:
November 4, 2020
Article Summary: 

The article provides 17 smart strategies for saving up for a down payment on a house or condo. The strategies include making savings a priority, paying off high-interest debt, automating savings, cutting back on expenses, borrowing from an RRSP, cashing in investments, stowing savings in a TFSA, learning to love staycations, finding a cheaper place to live, talking to the Bank of Mom and Dad, putting retirement savings on hold, getting a side gig, selling unwanted items, saving every bonus, tax return, and windfall, considering a longer mortgage, researching government programs, and negotiating a lower purchase price. These strategies can help individuals save tens of thousands of dollars and achieve their homeownership goals.



Keywords: 

saving, down payment, house, condo, priority, debt, automate, expenses, RRSP, investments, TFSA, staycations, cheaper living, Bank of Mom and Dad, retirement savings, side gig, selling items, bonus, tax return, windfall, longer mortgage, government programs, negotiating, homeownership.



Source Citation: 
Condos.ca Staff
Saving up for your down payment – 17 smart strategies
November 4, 2020
https://condos.ca/blog/posts/saving-up-for-your-down-payment-17-smart-strategies
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